Between the new regulations of the sector, the increasingly
tough competition and the advent of new players in the digital, the insurance
brokerage sector is undergoing a profound transformation.
The insurance brokerage market is still holding up well and
is also showing good growth in recent years. New signs have appeared, others
have definitely left the landscape.
Who are the leaders in the sector? How do local insurance
brokers survive in the face of large groups? How much are the fees of a general
insurance broker? Our answers in this article.
You will also find figures regarding this market in our
business plan template for an insurance broker. Note that, in the business plan
model, the figures and data are the most recent. Indeed, our team updates the
data contained therein on a regular basis.
3.395 Billion urose in turnover
According to the Argus Insurance millionaire brokers ranking
in 2019, the 50 largest French general insurance brokerage firms generated an
overall turnover of nearly 3.395 billion euros.
We can thus say that the insurance brokerage sector is
experiencing good growth. As far as local brokerage firms are concerned, the
figures remain positive and the trend is increasing. For the most part, they
record an average annual turnover of €149,000, which can go up to €200,000.
47 Million euros in turnover for a wholesale broker
This is the average turnover of an insurance wholesale
broker in France. The growth rate is up by 9%, which remains high compared to
other segments. It is especially the large groups and franchised brands that
are at the top of the ranking in terms of turnover.
The April Group remains the leader in the insurance
brokerage sector with an annual turnover of €1,017,300,000 followed by Entoria
with €136,400,000 and Alptis with €93,000,000 in annual turnover.
37,340 Insurance brokers
The insurance brokerage industry is as vast as it is
diverse. There are nearly 37,340 insurance brokers in France. 15% of the
employees are from the insurance sector.
In detail, there are 6,939 brokers and general agents
(excluding Insurance Intermediary Agents - MIA), 3,752 brokers and Financial
Investment Advisors (CIF) and 2,070 Brokers and Intermediaries in Banking
Operations and Payment Services (IOBSP).
In addition, there are 1,042 brokers and Agents of Insurance
Intermediaries (MIA) as well as 330 brokers and general agents and Agents of
Insurance Intermediaries (MIA). 9,948 of them are insurance brokers who carry
out the activity exclusively.
42% Of insurance startups are brokers
The digitalization of the insurance sector is attracting
more and more policyholders, but also new players. Online brokers represent 42%
of the 224 French insurance companies.
If there were 203 in 2020, there is a 10% increase in the
number of newcomers in 2021. According to the analyses of the Klein Blue
Partners firm carried out in collaboration with the French Assurtech
accelerator, 46 new startups have expanded the list while 25 have left the
49% Of the turnover in damage insurance
As for the distribution of the portfolio of local brokers,
they are mainly positioned in damage insurance (car insurance, property and
casualty insurance). They also declare that this represents 49% of their
The corporate market (business interruption insurance,
liability insurance for corporate officers) accounts for 41% of their turnover.
779 Deletions / deletions
Orias notes in a recent study that over the year 2020,
almost 779 deletions and write-offs were recorded in the COA (insurance broker)
54% of them were due to the cessation of activity (total or
partial). 23% of them have been deleted from the Trade and Companies Register
(RCS). 10% of them have not presented their professional liability insurance
Finally, 3% were written off for lack of professional
ability. To this are added another 1,004 deletions due to a failure to renew
2 TO 6 Employees for a brokerage firm
Small brokerage firms are mostly SMEs and small businesses
with an average workforce of no more than 3 or 4 employees. More specifically,
41% of local brokerage firms employ no more than 2 employees, while 27% of them
have 6 or more employees.
It should be noted that 79.8% of employees are men and 20.2%
are women, which is not exemplary in terms of gender parity.
35% Of loans are negoriated by brokers
Even if the figures remain low compared to those of our
neighbours across the Channel and the rest of Europe, there has still been a
good increase in recent years. 35% of loans are currently negotiated by brokers
in France if it is 65% in the UK.
However, the activity of brokerage firms, whether
independent or franchised, has recorded a good growth in recent years.
€2,500 For the services an insurance broker
The rates of an insurance broker vary according to the
complexity of the file to be processed and the category of insurance sought.
Its costs can go up to € 2,500, but it may also be that its services are free.
In this case, he pays himself in commission from the
insurer. It should also be noted that the rates will not be the same for a
local broker and an online broker.